17:9A-77 - By-laws; limitations on powers of directors - New Jersey Statutes

17:9A-77.  By-laws;  limitations on powers of directors
    A board of directors which shall be empowered to make, alter and repeal by-laws may not, however, exercise such power with respect to by-laws

    (1) fixing the number of directors of the bank or the manner and time of determining such number;

    (2) establishing the requirement for calling a special meeting of the stockholders;  or

    (3) setting forth the manner in which the by-laws may be made, altered or repealed.

     L.1948, c. 67, p. 254, s. 77.